Stock On Watch: Price T Rowe Associates Inc Just Opened Huge Mallinckrodt Plc Position

Stock On Watch: Price T Rowe Associates Inc  Just Opened Huge Mallinckrodt Plc Position

The New Price T Rowe Associates Inc Holding in Mallinckrodt Plc

Price T Rowe Associates Inc filed with the SEC SC 13G/A form for Mallinckrodt Plc. The form can be accessed here: 000008025516001355. As reported in Price T Rowe Associates Inc ’s form, the filler as of late owns 4.9% or 5,325,903 shares of the Health Care–company.

Mallinckrodt Plc stake is a new one for the for this institutional investor and it was filed because of activity on October 31, 2016. We feel this shows Price T Rowe Associates Inc ’s positive view for the stock. For a institutional investor managing $689.00 billion in assets and having 2216+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.

Mallinckrodt Plc Institutional Sentiment

Latest Security and Exchange filings show 433 investors own Mallinckrodt Plc. The institutional ownership in Q3 2015 is very high, at 90.22% of the outstanding shares. This is decreased by 2241507 the total institutional shares. 97178520 were the shares owned by these institutional investors. In total 53 funds opened new Mallinckrodt Plc stakes, 161 increased stakes. There were 120 that closed positions and 155 reduced them.

9 managers had the stock in their top Ten. Notable investors are: Consonance Capital Management Lp, Ascend Capital Llc, Endurant Capital Management Lp, Peregrine Asset Advisers Inc., Bridger Management Llc, Broadwood Capital Inc, Capital Growth Management Lp..

World Asset Management Inc is an institutional investor bullish on Mallinckrodt Plc, owning 11726 shares as of Q3 2015 for 0.03% of its portfolio. Vestor Capital Llc owns 19940 shares or 0.41% of its portfolio. MO Argent Capital Management Llc have 1.34% of their stock portfolio for 419057 shares. Further, Tealwood Asset Management Inc reported stake worth 0.92% of its US stock portfolio. The TX American National Insurance Company owns 10050 shares. Mallinckrodt Plc is 0.04% of the manager’s US portfolio.

Business Profile

Mallinckrodt public limited company (Mallinckrodt) is engaged in the specialty pharmaceuticals and nuclear imaging business. The Company develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. The Company’s segments include Specialty Brands, Specialty Generics and Nuclear Imaging. Its Specialty Brands segment produces and markets branded pharmaceutical and biopharmaceutical products for autoimmune and rare diseases; immunotherapy and neonatal respiratory critical care therapies, and central nervous system drugs. Its Specialty Generics segment produces specialty generic pharmaceuticals and active pharmaceutical ingredients (API) consisting of biologics, medicinal opioids, synthetic controlled substances, acetaminophen and other active ingredients. Its Nuclear Imaging segment manufactures and markets radiopharmaceuticals (nuclear medicine).

SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.

Price T Rowe Associates Inc website.

Insitutional Activity: The institutional sentiment increased to 0.83 in 2016 Q2. Its up 0.07, from 0.76 in 2016Q1. The ratio is positive, as 45 funds sold all Mallinckrodt PLC shares owned while 146 reduced positions. 45 funds bought stakes while 113 increased positions. They now own 100.83 million shares or 4.32% less from 105.38 million shares in 2016Q1.

Piedmont Invest Advisors Lc reported 3 shares or 0% of all its holdings. Caisse De Depot Et Placement Du Quebec holds 68,855 shares or 0.01% of its portfolio. Arizona State Retirement last reported 26,800 shares in the company. Aqr Mngmt Llc, a Connecticut-based fund reported 1.27 million shares. The California-based Tarbox Grp Inc Inc has invested 0% in Mallinckrodt PLC (NYSE:MNK). Public Sector Pension Invest Board has 20,728 shares for 0.01% of their US portfolio. Blackrock Institutional Na has 2.88M shares for 0.03% of their US portfolio. Oakbrook Invs Limited Liability Company reported 7,500 shares or 0.03% of all its holdings. Dupont Capital Mngmt Corp has 96,896 shares for 0.13% of their US portfolio. Moreover, Kbc Nv has 0.03% invested in Mallinckrodt PLC (NYSE:MNK) for 37,648 shares. Whittier Tru Of Nevada Incorporated holds 0% or 187 shares in its portfolio. Intact Investment Management reported 3,600 shares or 0.01% of all its holdings. At National Bank & Trust has 1.44% invested in the company for 159,033 shares. Capstone Asset Management Co holds 0.03% or 14,341 shares in its portfolio. Moreover, Herndon Capital Mngmt Ltd Liability Corp has 0% invested in Mallinckrodt PLC (NYSE:MNK) for 10 shares.

Analysts await Mallinckrodt PLC (NYSE:MNK) to report earnings on November, 28. They expect $2.25 EPS, up 22.28% or $0.41 from last year’s $1.84 per share. MNK’s profit will be $267.49M for 7.24 P/E if the $2.25 EPS becomes a reality. After $2.20 actual EPS reported by Mallinckrodt PLC for the previous quarter, Wall Street now forecasts 2.27% EPS growth.

The stock increased 2.10% or $1.34 during the last trading session, hitting $65.19. About 1.93 million shares traded hands or 21.38% up from the average. Mallinckrodt PLC (NYSE:MNK) has risen 0.88% since April 8, 2016 and is uptrending. It has underperformed by 4.76% the S&P500.

Mallinckrodt public limited company is engaged in the specialty pharmaceuticals and nuclear imaging business. The company has a market cap of $7.75 billion. The Firm develops, makes, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. It has a 14.31 P/E ratio. The Company’s divisions include Specialty Brands, Specialty Generics and Nuclear Imaging.

Mallinckrodt PLC (NYSE:MNK) Ratings Coverage

Out of 15 analysts covering Mallinckrodt (NYSE:MNK), 12 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 80% are positive. $218 is the highest target while $72 is the lowest. The $104.17 average target is 59.79% above today’s ($65.19) stock price. Mallinckrodt has been the topic of 31 analyst reports since August 5, 2015 according to StockzIntelligence Inc. As per Tuesday, September 29, the company rating was initiated by Nomura. The firm has “Outperform” rating by Northland Capital given on Wednesday, October 14. The firm has “Outperform” rating given on Wednesday, October 7 by Leerink Swann. Stifel Nicolaus initiated the shares of MNK in a report on Friday, August 12 with “Buy” rating. As per Friday, September 4, the company rating was maintained by BMO Capital Markets. The firm has “Outperform” rating given on Wednesday, August 5 by Oppenheimer. On Wednesday, June 29 the stock rating was initiated by BMO Capital Markets with “Outperform”. Northland Capital maintained Mallinckrodt PLC (NYSE:MNK) rating on Wednesday, November 25. Northland Capital has “Outperform” rating and $95 price target. The rating was initiated by Northland Capital with “Outperform” on Wednesday, November 11. The company was maintained on Thursday, July 21 by Mizuho.

More recent Mallinckrodt PLC (NYSE:MNK) news were published by: Prnewswire.com which released: “Mallinckrodt plc To Report Fourth Quarter And Full-Year Fiscal 2016 Results …” on October 18, 2016. Also Prnewswire.com published the news titled: “Mallinckrodt plc Reports Fiscal 2016 Third Quarter Results and Provides …” on August 02, 2016. Seekingalpha.com‘s news article titled: “Mallinckrodt: We Still Wouldn’t Touch The Stock Here” with publication date: November 07, 2016 was also an interesting one.

According to Zacks Investment Research, “Mallinckrodt Plc. is engaged in pharmaceuticals business. It develops, manufactures, markets and distributes specialty pharmaceutical products and medical imaging agents. The company’s Specialty Pharmaceuticals segment includes branded and generic drugs and Medical Imaging segment includes contrast media and nuclear imaging agents. Mallinckrodt Plc. is based in Dublin, Ireland.”

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